ARTICLES LABELLED WITH TAG Timisoara

Companies in IT, manufacturing, industry, and the medical and pharmaceutical sectors were the most active in Romania's office rental market over the past five years, generating over half of the demand for new space.

The Timișoara City Hall recently approved the Zonal Urban Plan (PUZ) for a new urban regeneration project by Țiriac Imobiliare, owned by Romanian billionaire Ion Țiriac.

The Romanian land market totalled around €450 million in 2024, a figure similar to 2023, with the residential sector generating the highest volume of transactions, according to estimates by Colliers Romania. 

Sales of houses and apartments increased by 7.6% in Bucharest and Ilfov region, in 2024, compared to 2023, according to an analysis by SVN Romania. During the same period, national sales increased by 6.6%. 

Tresor Le Palais in Timișoara has joined the Curio Collection by Hilton brand, marking the first transformation of this kind on the local market. 

Wallberg has obtained the construction permit and financing for the fourth residential building in the XCity Towers complex in Timișoara.

Industrial developer VGP has completed a new warehouse spanning 32,768 sqm in its Timișoara-based park, with more than half of its surface already leased by Continental Tires. 

The number of employees working in office buildings rose from 40% in Q1 2023 to around 55% in Q1 2024 in the projects managed by Colliers in Romania.

Industrial developer CTP has completed the purchase of six industrial projects and a land bank from Globalworth in Romania for an undisclosed sum.

New office deliveries in regional cities totaled 83,000 sqm in 2023 and the total leasable area has climbed close to 1.1 million sqm, according to a Cushman & Wakefield report. Offices in regional cities of the likes of Cluj-Napoca, Timișoara and Brașov represent around 30% of the corresponding total in Bucharest.